House building pushes construction index higher

Posted by | August 11, 2014 | Uncategorized | No Comments

Growth in new business in the construction sector increased at the fastest level in almost a decade in July, with activity in the housing sector accelerating at the fastest rate in the 15-year history of the Ulster Bank Construction Purchasing Managers’ Index.

Commenting on the results, Ulster Bank Ireland chief economist, Simon Barry the results indicated a strong start to the second half of the year by firms in the sector.

“The Irish construction sector has made a strong start to the third quarter, according to the results of the latest Ulster Bank Construction PMI survey.“Overall activity increased sharply in July, with the rate of growth quickening to its fastest in three months. “The July results marked the 11th consecutive month of expansion among Irish construction firms — an important indication that a sustained recovery is taking hold,” said Mr Barry.

Overall, activity in the sector rose to 62.6 in July from 59.9 in June – any figure above 50 indicates expansion.

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